Owners of 315,000 residential properties across the capital could be hit by a potential new tax to pay for Crossrail 2, according to research from EG’s Radius Data Exchange.
The homeowners would pay a combined £120m annually, with those living closest to the station paying up to £520 pa.
The new tax would be applied as part of council tax for more than a decade if the Surrey to Hertfordshire route is approved. Stations that will attract the charge include Kingston, Surbiton and Raynes Park
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At EG’s London Residential Summit earlier this month, Crossrail 2 consultant William Jackson revealed plans for a transport property charge within a 1km “zone of influence” around each of the proposed 35 Crossrail 2 London stations, saying that “those that stand to benefit should pay”.
The infrastructure project is expected to cost £30bn to build. With around 3.4m dwellings across the capital, the number of affected households reflects around 9% of all London homes.
The land within a 1km radius of these 36 stations comprises 28,000 acres, which is about 6% of the GLA legislative boundary.
Who will be hit?
Those living around proposed Crossrail 2 stations could be hit by charges of up to £520 per year.
Each zone would be split into three equally sized, concentric circles at 330m, 660m and 1km distances, with those homes closest to the stations paying the highest rates.
Crossrail 2 is considering two models. The model that would see homeowners pay the most would involve a £10 per week charge for those in the closest ring around a station, £7.50 per week in the middle ring and £5 per week in the outer ring.
Under the less costly model, households would be charged on an annual basis,
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